It gives me immense pleasure in welcoming you to the 25th Annual GeneralMeeting of your Company. The Director's Report and Audited Accounts for the year ended 31stMarch 2016 are already with you and with your permission I take them as read. Before Itake up the agenda for today's meeting I would like to share with you some of myperception relating to the performance of the company as well as the growth opportunitiespursued by it.
Your company is doing well in the business keeping its pace of earning profits. Theturnover of your company has reduced from Rs. 17.68 crores to Rs. 6.75 crores due tostress in the economy and continued slow down of business. Your company has earned aProfit before tax of Rs. 0.07 crore during the financial year. Due to nominal profitearned by the company your Board of Directors could not for recommend for any dividendeven for the current financial year ended as on 31.03.2016.
On behalf of the Company and all of you I take this opportunity to thank our valuedcustomers investors suppliers bankers consultants the Member of the Board theGovernment of India the Government of Orissa and in particular the NRIL collective fortheir excellent support and co-ordination to achieve yet another year of success for theCompany. We are committed to strive together as a team to attain the main objective of theCompany while ensuring our economical social & moral commitments.
I once again welcome you and thank you for the confidence you have reposed on us.
| ||Sd/- |
| ||Nirmal Modi |
|Dated : 30.05.2016 ||Chairman |